Sam writes about personal finance, retirement planning, and investing. Since 2009, he has been tracking his net worth and passive income. One of the pioneers of the modern-day FIRE movement, he encourages others to save, invest and live off their passive income to reach financial freedom earlier.
Table of Contents
Net worth refers to the value of all your assets minus all debts owed. To calculate it, take an inventory of everything you own, such as property and investments, and subtract from this sum the total of all outstanding liabilities like mortgage, car loan, and credit card balances.
At an older age, people typically see their net worths increase for various reasons – including finishing school and receiving inheritances – with many Americans becoming more financially responsible with age, often saving and investing more of their income.
Sam created Financial Samurai in 2009 to assist those confused by the global economic turmoil and clarify financial matters. Since then, it has grown into one of the largest personal finance sites online, with 1.5 million organic page views per month, and serves over 83,000 subscribers monthly. He teaches people how to save, invest and live off passive income efficiently to reach financial freedom faster.
Your net worth provides an overall picture of everything you own and owe, such as cash, investments, home equity, and any valuable pieces, such as jewelry or classic car collections. Your debt obligations, such as mortgage loans, student loans, and credit card balances, should also be factored in.
Maintaining an accurate net worth requires monitoring regularly to understand how savings and investments perform over time. Saving as much of your pre-tax income as possible in your 401k and IRA can also help – while looking for funds with low fees, but a long history of outperformance over the risk-free rate may also be intelligent investments.
Financial Samurai began blogging about personal finance in 2009. They quickly rose to become one of the early pioneers of the FIRE movement – individuals seeking financial independence through savings, investing, and living off retirement income streams. His current investment portfolio and online income streams generate approximately $310,000 in passive income annually.
Financial Samurai was created in 2009 to assist people in reaching financial freedom as soon as possible. Today it ranks among the largest independent personal finance sites online, with over 1.5 million monthly pageviews organically generated through Google. Sam encourages individuals to save smartly, invest responsibly, and leverage passive income sources for an enriching lifestyle.
Sam graduated from The College of William & Mary in 1999, then worked in investment banking at Goldman Sachs and Credit Suisse for 13 years before retiring in 2012 and living off the income generated from investments and online writing.
To achieve financial independence, it’s essential that you systematically build up tax-advantaged retirement accounts and after-tax investments so they provide enough passive income to cover lifestyle expenses. You can also increase savings rates and boost income through side hustles or creating your business venture – this will allow you to retire earlier while experiencing more of the joys of life!
As a personal finance blogger, Sam is open and honest about his finances, frequently updating his net worth and retirement income streams. Additionally, he shares his experience growing Financial Samurai into one of the premier independent personal finance sites online. He encourages his readers to invest strategically, save diligently, and live off passive investment income to reach financial freedom early.
Financial Samurai began during the global financial crisis to make sense of all the chaos. Now, he helps people worldwide achieve financial freedom sooner rather than later through his website, book, and free newsletter. Sam recommends saving at least 2x your annual expenses and investing in high-quality dividend-paying stocks – this strategy helped him amass an estimated net worth of roughly $3 Million as of 2022, living off his investments and online income streams; check out his full net worth report here.